This paper addresses the questions of what is a subsidy, which subsidies affect international trade, and why countries may wish to subsidize, particularly exporting industries. It considers the effects of these subsidies on other countries and why trading partners may wish to outlaw or...

The unconditional extension of the fruits of trade negotiations under the General Agreement on Tariffs and Trade (GATT) is giving way to bilateral and other discriminatory trade agreements. Led by the United States, GATT has taken a strong position against discrimination: the benefits of...